NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Baidu, Inc. (NASDAQ: BIDU) resulting from allegations that Baidu may have issued materially misleading business information to the investing public.
On April 7, 2020, China's internet regulator, the Cyberspace Administration of China (“CAC”), stated that search engine Baidu's content review on some of its news feed channels is not “strict,” “exerted bad influence to the society,” and violated relevant Chinese laws and regulations. The CAC ordered Baidu to clean up improper information. Baidu stated it would suspend operations of some mobile app channels.
On this news, Baidu's share price fell $4.46 per share, or 4.38%, to close at $97.33 per share on April 8, 2020, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Baidu investors. If you purchased shares of Baidu please visit the firm’s website at http://www.rosenlegal.com/cases-register-1845.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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